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IRISSAK [1]
3 years ago
10

Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $9,100 of its accounts receiv

able from Leer Co. 29 Leer Co. unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. Prepare journal entries to record the above transactions.
Business
1 answer:
Sidana [21]3 years ago
5 0

Answer:

(During write-off) March 11

Dr    Bad debt expense                     $9,100

Cr    Accounts receivable                  $9,100    

(at the time of collection) March 29

 Dr Accounts receivable                      $9,100    

 Cr Bad debts expense                        $9,100

 

  Dr Cash                                              $9,100

  Cr  Accounts receivable                   $9,100

Explanation:

On March 11, Dexter made an entry to write-off bad debts in the amount of $9,100. Dexter Co., charged it directly to Accounts receivable because the company uses direct write-off method. During the collection we have 2 steps to consider; First, On March 29 during the unexpected collection, Dexter shoud set up the reversal of the write-off entry which they had made last March 11. So we debit Accounts receivable and credit bad debts in the amount of $9,100. Second, is to record the collection, debit cash and credit Accounts receivable in the amount of $9,100.

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Answer: (D) Blanket position

Explanation:

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The main purpose of the blanket position bond is that for providing the employees theft coverage in the form of coverage securities, money and the properties.

The coverage is basically base on the different types of designed position and may also differ according to the different types of positions.      

 Therefore, Option (D) is correct.

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What is organization?<br>​
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kaheart [24]

Answer:

times interest earned= 9.49

Explanation:

Giving the following information:

Ron Landscaping's income statement reports net income of $75,200, which includes deductions for interest expense of $13,200 and income taxes of $36,900.

First, we need to calculate the income before taxes and interest expense:

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Now, to calculate the times interest earned we need to use the following formula:

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3 0
3 years ago
Johnston Company has budgeted production of 11,600 units and sales of 14,400 units in February. Each unit requires 15 minutes of
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Answer:

$43,500

Explanation:

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To calculate the total cost, first you have to calculate the amount of hours require to produce 11,600 units:

      1 unit        →  15 minutes

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1 hour →   60 minutes

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x=(1*174,000)/60= 2,900 hours

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3 years ago
What is a joint venture? Multiple Choice an effort in which one firm grants access to its patents and trademarks for a fee an ar
natali 33 [55]

Answer:

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A joint venture is defined as a business agreement where two or more parties pool their resources together to achieve a common goal. Usually profits and losses are shared equally among the parties unless there is an agreement to share otherwise.

The joint venture is an independent entity that is seperate from its owners. That means any liability of the joint venture is not binding on the parties involved.

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